If you’re on the lookout for a rental destination in the United States, Virginia Beach is a stellar option. Recent rankings by WalletHub place this coastal city in southeastern Virginia among the best in the country for renters. The assessment is based on 21 key indicators evaluating rental attractiveness and quality of life.
Why Virginia Beach Stands Out for Renters
Virginia Beach isn’t just a tourist hotspot; it’s also an affordable and comfortable city for renters. Here are some key factors contributing to its high rank:
- Affordability: With a cost of living lower than the national average, Virginia Beach boasts an average rent of $1,235 for a one-bedroom apartment, 14% below the national average. The city maintains a low rent-to-income ratio, meaning renters spend a smaller portion of their income on rent.
- Economic Strength: Virginia Beach features a robust local economy with a low unemployment rate, a high median annual income, and a diverse job market spanning tourism, defense, education, and healthcare.
- Quality of Life: The city offers a mild climate, low crime rates, and a strong sense of safety. With natural beauty, cultural diversity, and numerous recreational amenities, including beaches, parks, museums, and festivals, renters can enjoy a variety of activities and entertainment options.
Virginia Beach vs. Other Cities
In the WalletHub study, Virginia Beach secured the 9th spot out of 182 cities evaluated for rental market and living conditions. The top 10 cities for renters include Overland Park, KS; Scottsdale, AZ; Bismarck, ND; Sioux Falls, SD; Chandler, AZ; Fargo, ND; Plano, TX; Lincoln, NE; Virginia Beach, VA; and Gilbert, AZ.
Virginia Beach is not only the sole representative from Virginia in the top 10 but also stands out among coastal cities. It surpassed other major cities in the state, such as Richmond, Norfolk, and Chesapeake, in terms of rental affordability, economic strength, and quality of life.
Why Choose Virginia Beach for Renting?
Whether you’re a student, professional, family, or retiree, Virginia Beach caters to renters of all backgrounds. The city offers diverse rental options, from cozy apartments to spacious houses, in various neighborhoods to suit different lifestyles and budgets.
Living in Virginia Beach means experiencing the benefits of a vibrant and diverse city with a rich history, thriving culture, and stunning natural environment. Renting here promises a fulfilling and rewarding experience you won’t regret.